Real estate firms forecast profit decline in 2015
More than half of China’s listed real estate companies are expecting to report declines in annual profits last year, as the residential property market continues to slow down.
Of the annual earnings forecasts issued by 88 companies, 45 have predicted a decline in net profits, according to new figures from market intelligence provider Tonghuashun.
Twenty five of the companies expect net losses, 22 of them for the first time.
Commenting on the figures, Guo Yi, marketing director of the Yahao Real Estate Selling and Consulting Solution Agency, said small- and mediumsized developers will continue to be plagued by financial troubles this year, as stock levels remain high.